Lipocine announces license and supply agreement with Ache

Lipocine (LPCN) announced that it has entered into license and supply agreement with Ache Laboratorios Farmaceuitcos granting exclusive rights to market TLANDO in Brazil. The market for prescription testosterone products in Brazil is substantial and rapidly growing with compound annual growth rate, or CAGR, of 34% from 2019 to 2023 and no oral testosterone therapy registered in Brazil. Under the terms of the agreement, Lipocine has received an upfront payment and is eligible to receive additional payments upon the achievement of certain regulatory milestones and royalties on net sales. Ache assumes full responsibility for the regulatory submission and approval process in Brazil.